4 Blunders People Make While Buying Car Insurance

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The 11 Biggest Mistakes Car Shoppers Make | Edmunds

Car is considered valuable by many and so the owners want to make every effort possible to look after it and protect it from any damages caused due to accidents, or any other misfortune. If you didn’t know this, it is mandatory by law to purchase at least a third-party liability policy. However, if you wish for a more extensive cover, you can always opt for a comprehensive one.

When purchasing a car insurance policy, providing erroneous details can prove to be challenging for you later while filing a car insurance claim.

Besides these, there are other mistakes that you should avoid while purchasing a car insurance policy:

  1. Paying low deductible

People often opt for an insurance policy wherein they have to pay a lower deductible. This is an amount that must be paid by you before you receive the claim. For claim, a specific amount is decided that you must pay, and the maximum price is then paid by your insurance provider. If you opt for a plan with a low deductible, you will have to pay a higher premium amount. It is better to choose the car insurance policy that asks you to pay a higher deductible. This way you can receive the No Claim Bonus as well. NCB is the concession you receive if you don’t make an insurance claim during the policy term.

  1. Purchasing policy with a low premium

Some people purchase car insurance policy only because it is mandatory, and so they opt for the one with the lowest premium amount. Remember the major purpose of an insurance policy for your car, and the benefits it is capable of providing. Firstly, make sure you do your research and look for a well-reputed insurance company. Secondly, when you buy car insurance with a low premium, find out why does it cost less, and what it isn’t covering. And if the coverage you are receiving is less, your policy will be of no help during unfortunate incidents. To avail maximum benefits out of your car insurance policy, go for a plan that provides you with sufficient coverage at an affordable price.

  1. Providinginaccurate details

If you think hiding certain details will keep your premium under control, then you’re wrong. If you do so, and the insurance company finds it out later, your policy could be countedas invalid.

  1. Not trusting the online method of purchasing

If you buy car insurance online, the process becomes much easier and there is no involvement of an agent. You can compare various policies on the internet, at the comfort of your home and avoid all the unwanted expenses.

You sure won’t make any more blunders if you purchase the insurance policy yourself. To get the estimated amount of premium you are to pay, you can calculate its premium on your insurance company’s website as well, using the car insurance premium calculator, and gets quotes instantly.

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